Swansea chairman Huw Jenkins is confident Newcastle United target Taylor's situation can be resolved without recourse to a Barclays Premier League arbitration panel.
Jenkins told Sky Sports News: "I don't see that happening. I think either way, things will be concluded between us and Neil and we will deal with it and move forward.
"The main thing is we are hoping to get everything resolved if not by this week, early next week, and we will conclude things to our satisfaction then."
Asked if he believed the club would be able to keep Taylor at the Liberty Stadium, Jenkins replied: "I am always confident that we can get out of the situations what we want, and we will make sure we do that for the best interests of our club.
"Neil is fine. He is a young lad and perhaps all this has been blown out of proportion. We have got to make sure we protect him and he is looked after and he settles down and looks forward to the new season.
"With us gaining promotion and being involved now in the Premier League with all the new media attention that we are now going to have, things like this are bound to happen and we have got to deal with it in the right way as a football club."